00:01
So we want an investment of $4 ,000 to double.
00:07
So to become $8 ,000 in nine years with continuous compounding.
00:17
So that formula is p times e to the rt.
00:23
We are going to be solving for the interest rate.
00:27
So we're starting with $4 ,000, and then we want to end up with $8 ,000.
00:34
E is part of our formula, r is what we're solving for, and t is 9.
00:43
Divide both sides by 4 ,000.
00:46
So you have 2 equals e to the 9r.
00:50
Take the natural log of both sides...